Consumer Finance: Give and still save during the holidays

My mom has recently asked me not to give her a Christmas gift. Instead, she wants me to part with 40 per cent of this month's salary to charity.

She feels strongly about this particular request, being actively involved herself in a charity project.

"Don't buy me a present; those in need should be prioritised first. Remember, you're supposed to give 10 per cent to people in need on a regular basis. But I'm asking you only this once," she said.

It's good to promote a spirit of giving and social responsibility. But, with times being hard at the moment, can I even salvage enough money to fulfill this benevolent obligation? Mom only means well, and the timing couldn't be more appropriate. It's the time of year when best friend, brother or sister, aunt, etc. may be expecting a little bit of something, too.

To those of you whose bank accounts are almost reaching the point of disappearing but who still want to please your loved ones during the holidays: don't lose hope. There are still a lot of ways you can make them feel special, and you can probably save a little as well to help those that struggle daily for food and shelter.

Here's how you do it.

1) Bargains. Whether you're buying for your daily needs or special occasions, there are bargains to be had, probably the best way to save money. Hit the sales racks, the thrift stores and the good, old souqs. There are loads of valuable items waiting to be found. Your gift doesn't have to cost a million bucks. It's the thought that counts, remember? But that doesn't mean you just grab anything that fits the bill. Make sure it's something that your friend or loved one will find useful, and therefore be appreciated.

2) If you don't know how yet, learn to bake, and give the result! Try giving away cookies, hearty muffins or special sweets in holiday wrappings. They'll be sure to please those with a sweet tooth. You don't need to buy goodies from expensive bakeshops; make them yourself! It's not only a fun and rewarding thing to do, it will save you loads.

3) It's time to make use of those vouchers. Don't let them gather dust in your drawer. Find a way to make them lighten and brighten your gift shopping. Even a small discount can make a noticeable difference as far as your purse is concerned.

4) If there really isn't enough in your budget to buy every one of your friends and relatives a Christmas gift, get back in the kitchen and really unleash the chef in you! Gather everyone at your place and treat them to an intimate dinner. Home-cooked meals cost a lot less than the food in posh restaurants. Besides, you get to cook what you want.

5) Give charity gifts a second thought. Why not make a donation as a more meaningful present? Say, on behalf of your buddy, you pay for a gift of chickens for a poor family, a pair of shoes for an orphan or some nutritious meals for kids in a less privileged country. Though they might have been on your friend's wishlist, they might value the gesture more, as well as it costing less than a Playstation DVD. More of a real impact relative to price, and touching other people's lives for the good as well.

However you work it out, here's to a great holiday season.